José A. Alvarado Jr.

Photographer
 
Location: New York City, New York
Nationality: Puerto Rican American
Biography: José A. Alvarado Jr. is a Puerto Rican photographer dedicated to documenting class inequality, civic engagement, and contemporary issues in Puerto Rico and New York City. He works primarily in long-form storytelling, using visual imagery... MORE
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for Bloomberg: ‘Market’s Wrong, I’m Not’: Mike Mayo Loves Playing a Provocateur
josé a. alvarado jr.
Jan 9, 2024
Location: New York, New York
Summary
The analyst has won fans sparring with bank leaders who see him as a grandstander. He predicts their stocks will finally take off this year.
A thousand miles from his usual Wall Street perch, a 60-year-old powerlifter stepped into the spotlight as he prepared to dead-lift more than 410 pounds.

Mike Mayo was probably the only contestant at last year’s powerlifting nationals who used to have an Alan Greenspan photo pinned to his apartment wall — and undoubtedly the only one who spends his day job sparring with financial leaders, often moving shares of their banks with just a few words.

But here, in the halls of a Memphis convention center, the analyst hardly looked like an oddity in tight black shorts. Sucking in a breath, he squatted 336 pounds, then benched 230, and finished with the dead lift — walking away each time with a boyish skip.

This week the action shifts to New York as Mayo watches the nation’s giant banks post annual earnings — and Wall Street watches Mayo. Famously intense, the Wells Fargo & Co. researcher isn’t just a spectacle on conference calls, where he’s known to needle banking bosses. His call for the sector is drawing attention, too. Now in his fourth decade covering banks, he’s convinced shares of US lenders are poised for liftoff, and that short sellers should get ready to have their faces ripped off.

The sector was jolted last March as the collapse of three regional banks weighed on the industry. Shareholders worried about the toll that rising interest rates would take on lenders, leaving their stocks behind.

That's meant Mayo has been wrong in his view for much of the past two years. “Market’s wrong, I’m not wrong,” he counters. He’s even emerged as the loudest cheerleader of embattled Citigroup Inc. — the longtime laggard among major bank stocks.

Photographed for Bloomberg, with words by and


Provocateur, Powerlifter, Prophet: The Bank Analyst Who Divides Wall Street
The analyst has won fans sparring with bank leaders who see him as a grandstander. He predicts their stocks will finally take off this year.
Bloomberg.com
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for Bloomberg: ‘Market’s Wrong, I’m Not’: Mike Mayo Loves Playing a Provocateur by José A. Alvarado Jr.
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